Why are the premiums on silver so high?

No, JPM has nothing to do with the price of silver or premiums. A myth.

It was a legit coin shortage hence the premiums.

When silver was dead in the water for years, the premium was nil. Nobody wanted it. Like Facebook stock under $20/share. Now that Facebook is over $200/share, everybody wants to buy the dips.

 

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Fair enough, either way as long as the premiums remain high, I'm not interested.

 

smart

 

Supply and demand; panic buying. Vendors are in business to make money!

 

The bottom line is, don't buy any until the premiums go down. It's total BS. They'll say the same thing as the gasoline companies trying to justify higher prices, "Well, it's the cost of replacing it." Total BS... In the meantime they're selling the same gas that was in their underground tanks at, say, $2.50 last week and are selling it for $2.89 this week. It's the SAME GAS. It's the same with bullion. They're making money hand over fist. Don't buy until the premiums come down--and tell them so.